5.4 Version in production for all Allegient clients and offers Self-Insured Retention functionality
Wilton, CT – August 1, 2006 – Allegient Systems, a leading software and service provider which continues to set the standard in legal expense and performance management, today announced the introduction of Version 5.4 of their Expense and Performance Management Suite. Already the insurance industry�s most broadly utilized litigation management and legal bill review solution, the latest version of the system includes the addition of Self-Insured Retention functionality as well as enhanced rate navigation and filter settings, and an improved firm submission queue. The new version is available immediately and it is already in production for all Allegient clients.
This is the second new version released in 2006. Version 5.4 further demonstrates Allegient Systems� focus on and commitment to continuous enhancements to provide innovative solutions and features to help insurers make the best choices when it comes to managing their legal defense.
The Self-Insured Retention (SIR) functionality provided with Version 5.4 enables an insurer to proactively monitor the litigation costs on claims with SIR by allowing the insurer to:
review invoices against billing guidelines to quickly identify invoices below or exceeding the self-insured retention;
review all invoices for compliance;
monitor litigation costs on claims with SIR;
provide recommendations to insured on payment of invoices below the retention;
track and reference all activity for invoices subject to SIR; and
make payments for only their portion of the defense costs.
�We greatly value our clients� feedback and input when it comes to our product development initiatives,� noted John F. Kelly, Allegient Systems� CEO. �Our clients� knowledge complemented by our insurance and legal expertise allows us to continue to deliver best of breed solutions for legal expense management in the insurance industry.�
About Allegient Systems
For more than 15 years Allegient Systems has been both pioneer and leader in providing legal expense and performance management systems and services that maximize the potential and the profitability of professional legal service relationships between law firms and corporate law departments or claims organizations.
Allegient�s web based offering delivers collaboration, efficiency and productivity to the litigation management process by using electronic invoicing, online bill review, budgeting, workflow management and a sophisticated rules engine. Allegient�s Business Intelligence capabilities � using Hyperion-based query and analytics tools – allow users to access, analyze and share data for the purpose of improving litigation expense, performance and outcome.
Allegient is headquartered in Wilton, CT and has sales and support facilities in Chicago, IL and Toronto, ON.